|Grant applications close 10 September 2021.|
The Small Business COVID Hardship Fund offers grants of up to $10,000 to businesses that have been severely impacted by COVID-19 experiencing a decline in turnover of at least 70% but are ineligible for other business grants programs.
To be eligible for the hardship fund, you must:
- Be located within Victoria; and
- Have experienced a decline in turnover of at least 70% for a minimum consecutive two-week period since 27 May 2021 (based on your worst minimum consecutive two-week trading period between 27 May and 10 September 2021 compared with a minimum consecutive two-week trading period between 27 May and 10 September 2019 from a similar time of the year); and
- Have an annual Victorian payroll of up to $10 million in 2019-20 on an ungrouped basis; and
- Be registered for GST on and from 28 July 2021;
- Hold an ABN and have held that ABN on and from 28 July 2021; and
- Be registered with the responsible Federal or State regulator (ASIC, ACNC or Consumer Affairs Victoria).
If your business is an employing entity, your business must also:
- Be registered with WorkSafe Victoria; and
- Attest that the business is supporting its workers to access any paid leave entitlements, or that if a person can work from home, to work from home during the COVID-19 restrictions, and supporting their casual workers, where possible.
Businesses that are eligible for any other support packages launched on or after 27 May 2021 will not be eligible for the hardship fund. In addition, organisations that operate a private gender-exclusive club where membership is only by invitation or nomination by an existing member are not eligible for assistance under the Program.
How to apply
To apply for the hardship grant, you can:
- Complete your application without a letter from The Field Group. Using this method, you will be contacted to supply additional information verifying your application. Applications lodged using this method may take up to 25 business days to process.
- Complete your application online and submit a letter from The Field Group attesting to the business’s decline in turnover. To enable us to prepare the letter required to access with grant we will require you to complete our ‘Small Business COVID-19 Hardship Fund – Eligibility confirmation’
This document contains general advice only and is prepared without taking into account your particular objectives, financial circumstances and needs. The information provided is not a substitute for legal, tax and financial product advice. Before making any decision based on this information, you should speak to a licensed financial advisor who should assess its relevance to your individual circumstances. While The Field Group believes the information is accurate, no warranty is given as to its accuracy and persons who rely on this information do so at their own risk. The information provided in this bulletin is not considered financial product advice for the purposes of the corporations Act 2001.